Overview
The sale of 400 E. 56 Street, 4H in Sutton Place was a meticulously planned and executed process that resulted in a bidding war with two all-cash offers. Our approach focused on strategic staging, aggressive marketing, and expert negotiation to secure the best possible outcome for our client.
Preparing the Home for Market
Two months prior to listing, we began the preparation process by coordinating staging, decluttering, and touch-ups to enhance the unit’s appeal. We enlisted a virtual stager from Italy to refine the high-end photographs, ensuring that the apartment was showcased in the most visually compelling manner.
Positioning Plaza 400 as the Premier Building Choice
A key component of our strategy was cultivating the due diligence of Plaza 400 to position it as a premier choice in Sutton Place. We summarized the building’s strong financials for our marketing materials, highlighting its stability and desirability for prospective buyers.
Targeted Marketing and Buyer Outreach
Our marketing efforts were both strategic and aggressive:
We canvassed local residential buildings, including Plaza 400 itself, to generate organic interest.
We targeted select brokers that sold in Sutton Place and the Upper East Side in the past three months to reach active buyers in the marketplace.
Our outreach resulted in 12 prospective buyers viewing the apartment within the first week.
We leveraged multiple marketing channels, including social media, email campaigns, brokerage networks, REBNY's RLS, and the Streeteasy-Zillow platform to broadcast the curated imagery to the widest audience possible.
Understanding that this is a weaker market, we strategically timed the listing for after January 1 when buyers are more motivated, ensuring it aligned with the seller's goals and timing.
Cultivating the Right Buyers
We recognized the importance of attracting qualified buyers who would be embraced by the cooperative. Our approach to photography and presentation was tailored to appeal to a mature audience, ensuring that the property resonated with the right demographic.
Negotiation
Through our efforts, we generated two competing offers, allowing us to leverage the competition to secure the highest and most qualified purchaser. The winning buyer was an all-cash purchaser without financing contingencies, ensuring a smooth and expedited contract.
Market Intelligence and Pricing Strategy
Prior to listing, we continuously monitored market trends, mortgage rates, and comparable sales. This data-driven approach allowed us to price the unit strategically, minimizing Days on Market while maximizing value for the seller.
Conclusion
The contract for 400 E. 56 Street, 4H exemplifies our ability to execute a comprehensive real estate strategy. From meticulous home preparation to targeted marketing and expert negotiation, we delivered outstanding results that met and exceeded our client’s expectations.
Want to learn more?
Contact Corey Cohen at The Roebling Group
646.939.7375.
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